The Main Areas of Monetary Policy: Price Stability, Resistance to Shocks
Russian Economic Developments. Moscow, 2016, No. 12, pp. 2-5
4 Pages Posted: 23 Dec 2016
Date Written: December 23, 2016
The draft Guidelines for the Single State Monetary Policy (hereinafter – the Draft) prepared by the Bank of Russia does not involve significant changes in monetary policy in the upcoming mid-term period. Russian monetary authorities see their main task in maintaining price stability and improving financial sector resilience to possible macroeconomic shocks. The Bank of Russia does not give up the goal of reducing consumer inflation to 4% by the end of 2017, so the regulator plans to maintain a moderately tight monetary policy. There are no plans for active intervention in the foreign exchange market, and the exchange rate will remain floating.
Keywords: Russian economy, inflation, monetary policy, price stability, resilience to shocks
JEL Classification: E31, E43, E51
Suggested Citation: Suggested Citation